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Author Topic: The future of the paper money  (Read 412185 times)
richardsNY
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March 26, 2016, 11:21:27 PM
 #541

It is only a matter of time when will first blockchain be used in bank systems. Thay are smart people and they will find their ways to reduce influence of bitcoin, this is certain. Nobody will watch this rise without interfering. This leads us to regulations and this is way of accepting of bitcoin so we all must vote for regulations..

If block chain technology is used by a financial institution, it is likely to be a private chain, not a public chain like Bitcoin. People seem to think Eth will be used, but I don't see it happening. Eth is a bubble right now because of blind optimism.

Banks and governments won't use any of the currently existing blockchains as that goes against their policy and way of keeping tight control over every sort of transaction. It's all about money. They can lose billions in fees and revenue every year if they have the Bitcoin blockchain as their main chain. Would you be willing to lose billions in revenue? I don't think so. They will use their own version of the blockchain.

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rio3233
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March 27, 2016, 12:38:28 AM
 #542

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.
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March 27, 2016, 03:05:07 AM
 #543

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

You have a point..Yeah, even this days there are still those cultural minorities who even don't have the idea what is a computer.. Most of them are still using those metal coins...When they have a paper money, it is already has a big value to them.. even if it is only in 2 digits..what about bitcoin? I don't know how they will understand those .000 or even if we convert it to satoshis of 1000, that is still hard.. so I think paper money would still be living a long life..

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March 27, 2016, 04:52:22 AM
 #544

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

You have a point..Yeah, even this days there are still those cultural minorities who even don't have the idea what is a computer.. Most of them are still using those metal coins...When they have a paper money, it is already has a big value to them.. even if it is only in 2 digits..what about bitcoin? I don't know how they will understand those .000 or even if we convert it to satoshis of 1000, that is still hard.. so I think paper money would still be living a long life..
I highly, highly doubt a majority of the population would actually be behind moving towards a completely cashless society. There will always be paper money for at least another few decades (maybe centuries), before humanity gets super-advanced and starts expanding beyond Earth.

I'm confident we won't see a move towards a completely cashless society in the next few years, but stuff can always change.














 

 

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nostal02
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March 27, 2016, 05:17:11 AM
 #545

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

You have a point..Yeah, even this days there are still those cultural minorities who even don't have the idea what is a computer.. Most of them are still using those metal coins...When they have a paper money, it is already has a big value to them.. even if it is only in 2 digits..what about bitcoin? I don't know how they will understand those .000 or even if we convert it to satoshis of 1000, that is still hard.. so I think paper money would still be living a long life..
I highly, highly doubt a majority of the population would actually be behind moving towards a completely cashless society. There will always be paper money for at least another few decades (maybe centuries), before humanity gets super-advanced and starts expanding beyond Earth.

I'm confident we won't see a move towards a completely cashless society in the next few years, but stuff can always change.


Change is really inevitable and in the future its really going to be a cashless one,our technology is advancing and so is money is so seeing a paper money gone will be in the future were we wont see it happen.
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March 27, 2016, 05:28:17 AM
 #546

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.
yeah is still constrained internet of course there are many areas or places that have not been supported to use digital currency bitcoin or another. cash is still urgently needed for today


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alisafidel58
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March 27, 2016, 06:40:02 AM
 #547

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.
yeah is still constrained internet of course there are many areas or places that have not been supported to use digital currency bitcoin or another. cash is still urgently needed for today


When there is no internet available then fiat will this be used as money and bitcoin is useless in those area where internet is not available.

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March 27, 2016, 02:41:14 PM
 #548

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.
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March 27, 2016, 03:36:58 PM
 #549

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.

Every years our life always upgrade into digital era, and maybe someday people will not paper money anymore, and on that years maybe we will use digital money like bitcoins.
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March 27, 2016, 04:33:07 PM
 #550

Paper money is expensive and unnecessary and soon will face oblivion.
But i can't except that bitcoin will be his successor. Banks already have their ideas maybe even "better" for them, with endless supply of total coins ..Maybe even on blockchain.

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March 27, 2016, 05:24:42 PM
 #551

Paper money used to be necessary to carry around to do your daily business around town but nowadays people prefer to use credit and debit cards to shop around. In Scandinavia Norway, Sweden and Denmark are preparing to be the first 'cashless' societies where all of the transactions will be done electronically. This will increase the security of your funds and there will be less chance of getting robbed on the street

martinacar
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March 27, 2016, 09:39:37 PM
 #552

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.

Every years our life always upgrade into digital era, and maybe someday people will not paper money anymore, and on that years maybe we will use digital money like bitcoins.

there is a big chance that the paper money disappears because its just a old pay method, everything is gonna be digital, I have no doubts about that if I'm talking honest about it.
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March 27, 2016, 10:32:21 PM
 #553

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.

Every years our life always upgrade into digital era, and maybe someday people will not paper money anymore, and on that years maybe we will use digital money like bitcoins.

there is a big chance that the paper money disappears because its just a old pay method, everything is gonna be digital, I have no doubts about that if I'm talking honest about it.

Indeed, everything is gonna be digital, you can already see signs of this at other currency's like the euro its getting a lot more used these days online.
It will not take long till the paper money will disappear although there will always be some because elderly cannot take this step mostly.

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betohell
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March 28, 2016, 04:45:25 AM
 #554

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.

Every years our life always upgrade into digital era, and maybe someday people will not paper money anymore, and on that years maybe we will use digital money like bitcoins.
turn into the digital era. bitcoin does not mean it will automatically replace fiat. of course they will make the appropriate version of era.

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March 28, 2016, 04:49:39 AM
 #555

Paper money used to be necessary to carry around to do your daily business around town but nowadays people prefer to use credit and debit cards to shop around. In Scandinavia Norway, Sweden and Denmark are preparing to be the first 'cashless' societies where all of the transactions will be done electronically. This will increase the security of your funds and there will be less chance of getting robbed on the street

That would a great way in fighting anti-robbery around the street but what about the robbery in the worldwide web? I have heard one story of a call center agent that they can steal some money from credit cards. They get a little so the owner wont see it then put it in another account. Doing this over and over will get him a lot of money in a day.





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March 28, 2016, 06:32:36 AM
 #556

That would a great way in fighting anti-robbery around the street but what about the robbery in the worldwide web? I have heard one story of a call center agent that they can steal some money from credit cards.

With or without paper money there will always be a robbery, so you cant really expect things to be safe just because the world is choosing not to use paper money anymore. However the world needs to adapt if it wants to survive therefors the usage of paper money will be less and less in the future

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March 28, 2016, 07:44:34 AM
 #557

Paper money will of course exist in the future, there is no reason that it is going to disappear in the future.
We all know of course that online money and Bitcoin etc is going to be more popular but that will not change the paper money.
I think certainly there are grounds upon which the old version of the old one will be replaced by something more sophisticated. it is a cycle that is inevitable whether the papermoney is the old version?


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bamboylee
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March 28, 2016, 08:11:45 AM
 #558

Paper money will not cease to exist simply because government will not allow it to happen. As simple as that. We can continue to use bitcoin but I do not think we will have enough influence to abolish the government backed paper money. They will continue to print and we will continue to use it even if we have bitcoin to rely on. Bitcoin will just be an alternative, a better alternative.

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ajrah
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March 28, 2016, 12:17:38 PM
 #559

Paper money will not cease to exist simply because government will not allow it to happen. As simple as that. We can continue to use bitcoin but I do not think we will have enough influence to abolish the government backed paper money. They will continue to print and we will continue to use it even if we have bitcoin to rely on. Bitcoin will just be an alternative, a better alternative.

You're right , this is my opinion also .but i think if do bitcoin paper money or bitcoin as mode of payment will exist it will not replace our money ,many a bitcoin like my friend saw a 40 btc paper of bitcoin in bank of Europe .some like that but its better to be an alternate as you said .

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March 28, 2016, 01:34:04 PM
 #560

Paper money will be in use whatever means of transactions as well currencies exist, Paper money is in use from the early days of human existence.

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